By Brian Johnson
Santa Barbara Association of Realtors
Buying a home in Santa Barbara can be a difficult proposition. With home prices at record highs some buyers have found it difficult to come up with all of the upfront costs when trying to close on a home. However, there is an organization that has worked over the last three decades to help with those upfront costs. Coastal Housing Partnership is a nonprofit started in 1987 by a group of local employers. They were looking for a way to battle the difficulty of attracting and retaining employees in our expensive market.
They initially began by creating a network of real estate professionals who offered discounts and savings to the employees of these companies. They have since expanded to offer benefits that help with mortgages, rentals and home purchases. Additionally, they provide employees of member companies with educational resources that can help buyers and those looking to refinance. There are no income restrictions and these benefits are not limited to first time homebuyers.
Over 60 companies and organizations are members of Coastal Housing Partnership. They range from local cities like the City of Santa Barbara and City of Goleta to private companies like Amazon and Procore Technologies. The employees of these companies and organizations can take advantage of services that include discounts on lender expenses, real estate commissions and inspection fees. These benefits are available when buying a home in Ventura, Santa Barbara and San Luis Obispo counties. In addition to the benefits in purchasing a home, there are benefits to renters. Local property owners can participate in the Coastal Housing Network and when they do, they agree to provide discounts to the employees of member companies.
Finding and retaining employees has always been a challenge for our area. Our community features magnificent natural beauty, top-notch educational programs and exceptional cultural institutions. However, when people start to look at the cost of living here it is a huge barrier to entry. More programs like this could help that problem and keep Santa Barbara growing and vibrant.
Brian Johnson is a California licensed real estate agent and the Managing Director of Radius Commercial Real Estate. Brian handles all types of commercial real estate transactions but has a special focus on multifamily investments. He can be reached at 805-879-9631 or firstname.lastname@example.org